6511 E Broad St
Columbus, OH 43213
Raising Cane's · Retail Property For Sale

The subject investment opportunity is a freestanding Raising Cane’s Chicken Fingers. The tenant, RCO Limited, was the first Raising Cane’s franchisee. RCO now operates 27 locations throughout Ohio and Kentucky with more stores under development. This established location opened in 2012 and has had steadily increasing sales ever since opening. 2017 fiscal year store sales were $2.713 million, or $997 PSF, a 9.45% increase over the 2016 sales which were $2.41 million. This absolute NNN lease calls for 10% rental increases every 5-years. Raising Cane’s Chicken Fingers is the fastest growing restaurant chain in the country with a 25.9% sales increase in 2016 over 2015. Fiscal 2016 Revenues were $640.5 million. Raising Cane’s is a quick-service restaurant chain that operates and franchises about 330 eateries in 23 states that feature a menu consisting of chicken fingers, Cane’s sauce, Texas Toast, Kaiser rolls, crinkle-cut fries and coleslaw. The subject property is located on East Broad Street in the popular Reynoldsburg community, a suburb of Columbus, Ohio. Traffic counts on East Broad Street exceed 52,000 daily. Reynoldsburg is a community of approximately 34,000 people located at the eastern edge of the Columbus MSA. It is home to the Limited Brands (Victoria’s Secret and Bath & Body Works). Reynoldsburg is ideally situated for travel and business with direct access to I-70, I-270, SR16 (Broad Street), US 40 (Main Street), and SR 256. The subject property is just minutes from Port Columbus and Rickenbacker International Airports, downtown Columbus and The Ohio State University, one of the largest universities in the country with over 66,000 undergraduates. Columbus is the state capital and the most populous city of the state of Ohio. It is the 14th-most populous city in the United States with a population of 860,090 as of 2016 estimates. This makes Columbus the 3rd-most populous state capital in the United States and the second-most populous city in the Midwestern United States. It is the core city of the Columbus, Ohio, Metropolitan Statistical Area, which encompasses ten counties. With a population of 2,021,632, it is Ohio's third-largest metropolitan area.